31(1)Section 219 (availability of individual's lifetime allowance) is amended as follows.U.K.
(2)In subsection (4) (previously-used amount)—
(a)in paragraph (a), for “crystallised by” substitute “ which is the relevant untaxed amount in relation to ”, and
(b)in paragraph (b), for “crystallised by” substitute “ which are the relevant untaxed amounts in relation to ”.
(3)After that subsection insert—
“(4A)“The relevant untaxed amount”, in relation to a previous benefit crystallisation event, is—
(a)where no tax was charged in relation to the benefit crystallisation event, the amount in respect of which tax would have been so charged if none of the individual's lifetime allowance had been available, and
(b)where tax was charged in relation to the benefit crystallisation event, so much of the amount in respect of which tax would have been so charged if none of the individual's lifetime allowance had been available as exceeds the amount in respect of which tax was so charged.”
(4)In subsection (5), for “amount crystallised by” substitute “ relevant untaxed amount in relation to ”.